How Mark Zuckerberg retains control of Facebook

February 03, 2012 18:44

'Mark Zuckerberg has arranged the ownership of Facebook so as to give himself extraordinary power to steer the company. By the time Facebook filed for a $5 billion public offering on Wednesday, had managed to hold on to more than one-fourth of the shares in the company, and his agreements with other investors enhanced his voting power to almost 60 percent of total shares,' writes Somini Sengupta in the New York Times, which is a 'greater measure of control than Bill Gates had at Microsoft when it went public in 1986 (49 percent), and far greater than what the co-founders of Google had in 2004 (16 percent each).' To read more, click here.

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